Multifaceted co-operation agreed with South Korea

SEOUL — Viet Nam and the Republic of Korea (RoK) have reached a consensus on a number of measures to deepen the two countries' strategic partnership during talks between Prime Minister Nguyen Tan Dung and South Korean President Lee Myung-bak.

The two leaders agreed in Seoul yesterday to continue exchange of delegations to enhance mutual understanding.

They also agreed to increase dialogue and practical co-operation in diplomacy, national defence and security, working closely together to mark Viet Nam-RoK Friendship Year and strengthen friendship and co-operation between the two peoples.

In addition to deepening co-operation in trade and investment, the two sides consented to gradually reduce Viet Nam's trade deficit with South Korea and promptly complete procedures to launch negotiations on a bilateral free trade agreement.

The RoK considered Viet Nam as a leading partner in development and investment co-operation, Lee said.

He added that the RoK would consider Viet Nam's co-operative proposals on trade, development assistance, science and technology, education and training, transport, agriculture and construction.

The proposals included a project to build an express railway linking HCM City and Can Tho City, a hi-tech park in Can Tho City and the expansion of the north-south National Highway.

They agreed to continue enhancing co-operation in labour and vocational training, dealing with relevant issues and providing support and protection for overseas Vietnamese, including the community of Vietnamese brides in the RoK.

Both sides also agreed to work closely at international forums.

After the talks, the two leaders witnessed the signing of a memorandum of understanding on co-operation between the Vietnamese Finance Ministry and the RoK Ministry of Strategy and Finance and the construction of a hi-tech park. The also witnessed the signing of an understanding on a co-operative agreement between the Vietnamese Ministry of Industry and Trade and the RoK Ministry of Knowledge Economy on developing nuclear energy for peaceful purposes.

Hope expressed

Finance Minister Vuong Dinh Hue has called for further co-operation in the field between Viet Nam and the Republic of Korea (RoK).

During his meeting with Minister of Strategy and Finance Bahk Jae-wan on Tuesday, as part of his visit to the RoK, Hue expressed his hope that growing cooperation between the two ministries would foster bilateral economic and trade relations.

The Finance Ministry of Viet Nam would actively work with the RoK Strategy and Finance Ministry, as well as RoK investors in Viet Nam, to build an open, transparent and friendly business environment for long-term co-operation, he stressed.

Minister Bahk Jae-wan thanked the Vietnamese Government and the Finance Ministry in particular for their support to RoK agencies and enterprises in operating in the country.

He praised existing co-operation between the two sides, expressing the belief that current efforts would lead to further development, significantly contributing to the two countries' strategic partnership.

In talks with President of Korea Eximbank Kim Dong-soo, Hue praised the bank's positive contributions and effective operation in Viet Nam as well as its comprehensive cooperation with the Finance Ministry.

The two sides also reviewed Viet Nam-RoK cooperative activities in preferential loan provisioning and talked about orientations for future projects.

Hue called on Eximbank to give further support to Viet Nam's high demand for infrastructure development.

Kim Dong-soo confirmed that the RoK government would continue investing in infrastructure, green growth projects and climate change adaption programmes in Viet Nam.

On the same day, Hue met with National Tax Service Commissioner Lee Hyun-dong to evaluate the two agencies' cooperative programme.

Lee Hyun-dong affirmed that the RoK National Tax Service was willing to cooperate with the Viet Nam General Department of Taxation, contributing to the development of the Viet Nam-RoK strategic partnership.

The RoK is one of Viet Nam's most important partners in the fields of economics, investment, culture, education and labour, while Viet Nam assist RoK in entering Southeast Asia's market.

The country remains among the top three investors in Viet Nam with an investment commitment of US$411.8 million in 2011, a year-on-year increase of 39 per cent. — VNS